In today’s business world, organizations that do not have a properly developed business strategy will have difficulties in surviving and staying afloat. And if they somehow do succeed, it will be very difficult for them to achieve a competitive place on the market. Strategic planning includes the analyses of the entire organization, selection of the strategy and implementation of that same strategy. The main roll of a business manager, which is to make effective and the most efficient strategic decisions for the organization, is becoming more and more demanding each day. We are all witnesses of how fast the world around us is changing. Today’s way of life is getting faster and faster on daily basis, in both personal and business aspects. Precisely because of that, managers should be constantly analysing, adjusting, and, if necessary, changing their strategies. Each and every strategy is specific in its own way, but they all have one thing in common, and that is to achieve a goal, or goals of the entire organization. Understandably so, the goal of every organization is to make high profit and to have a competitive advantage on the market. Considering the fact that the situations on the market are changing on the daily basis, managers should be able to deal with the newly developed situations and they cannot afford to be surprised or caught unaware by certain developments. In this presentation, I have showcased some types of strategies that managers could choose, as well as some of the ways in which development strategies could be made.